The light and the gas fire the CPI of Spain in January to 3% – Investing.com Spain

MADRID (Reuters) – The consumer price index (CPI) rose in Spain by 3.0 percent year-on-year in January, accelerating for the second month in a row by the price increase of fuel and energy, according to preliminary data published on Tuesday by the National Statistics Institute.

this Is the highest figure since December 2012 and almost doubles the rate of 1.6 percent in December.

The data is located in addition far above the price stability objective of the European Central Bank, whose goal is to keep inflation below 2 percent, but close to that value, and adds to a debate about how long the monetary stimulus of the bank.

The HICP (CPI harmonised with the eurozone) preliminary stood at 3.0 per cent year-on-year, data that if confirmed would represent a rise of 1.6 points compared to the previous month, according to the INE.

In inter-monthly terms, the CPI fell 0.5 percent this month, while the HICP decreased by -0,9 percent.

Spain is one of the largest european importers of energy and is vulnerable to changes in their costs. The INE said that the January reading reflected a rise in the price and electricity, for the increase of the demand due to low temperatures.

The underlying inflation, which removes the components more volatile as the prices of energy and food, recorded an annual rate more moderate 1 percent in December.

A resurgence of inflation German in January, when it reached a peak of three and a half years, caused the Monday that bond yields in the euro zone with a low score were to rise dramatically, while increasing the nervousness about when to reduce the ECB its stimulus program money.

The inflation French also rose more than expected, while the preliminary data of the CPI for the euro zone are due out this Tuesday.

Ewald Nowotny, the ECB said Monday that the central bank will probably review it for the first time, its monetary policy strategy in June, but did not mention whether it would take any decision on lowering its programme of stimulus.

In Spain, a resurgence of inflation in 2017 is in addition to predictably the winds against the economy this year, after the weakness of prices to foster a recovery in household expenditure in the last three years.

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